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Why First Solar (FSLR) Outpaced the Stock Market Today
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In the latest trading session, First Solar (FSLR - Free Report) closed at $257.70, marking a +1.14% move from the previous day. This change outpaced the S&P 500's 1.09% gain on the day. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq increased by 1.91%.
Shares of the largest U.S. solar company witnessed a gain of 7.12% over the previous month, beating the performance of the Oils-Energy sector with its loss of 7.57%, and the S&P 500's gain of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of First Solar in its upcoming earnings disclosure. On that day, First Solar is projected to report earnings of $3 per share, which would represent a year-over-year decline of 5.66%. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, down 3.31% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.61 per share and revenue of $5.1 billion. These totals would mark changes of +23.93% and -2.21%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. First Solar presently features a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 14.47. Its industry sports an average Forward P/E of 22.5, so one might conclude that First Solar is trading at a discount comparatively.
Also, we should mention that FSLR has a PEG ratio of 0.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. FSLR's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Why First Solar (FSLR) Outpaced the Stock Market Today
In the latest trading session, First Solar (FSLR - Free Report) closed at $257.70, marking a +1.14% move from the previous day. This change outpaced the S&P 500's 1.09% gain on the day. On the other hand, the Dow registered a gain of 0.14%, and the technology-centric Nasdaq increased by 1.91%.
Shares of the largest U.S. solar company witnessed a gain of 7.12% over the previous month, beating the performance of the Oils-Energy sector with its loss of 7.57%, and the S&P 500's gain of 0.29%.
Analysts and investors alike will be keeping a close eye on the performance of First Solar in its upcoming earnings disclosure. On that day, First Solar is projected to report earnings of $3 per share, which would represent a year-over-year decline of 5.66%. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, down 3.31% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.61 per share and revenue of $5.1 billion. These totals would mark changes of +23.93% and -2.21%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for First Solar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. First Solar presently features a Zacks Rank of #3 (Hold).
Digging into valuation, First Solar currently has a Forward P/E ratio of 14.47. Its industry sports an average Forward P/E of 22.5, so one might conclude that First Solar is trading at a discount comparatively.
Also, we should mention that FSLR has a PEG ratio of 0.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. FSLR's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.